Global oil markets are set to return to oversupply soon. Fitch Ratings reports the Strait of Hormuz closure is a temporary supply shock. Pr...

The reopening of the Strait of Hormuz could trigger a faster-than-expected recovery in global oil supplies. With tankers already positioned...

Global oil markets are set to see a surplus once the Strait of Hormuz reopens. Fitch Ratings predicts this despite current price hikes. The...

OPEC+ ministers decided Sunday to increase oil quotas by a total 188,000 barrels per day for July, in a move analysts said would be unlikel...

OPEC+ ministers are meeting to discuss increasing oil production quotas to combat surging prices, which have doubled since Strait of Hormuz...

OPEC+ is set to raise its oil output targets for the fourth straight month, a strategic move amidst production hurdles faced by some of its...

The Abu Dhabi National Oil Company on Sunday pledged to spend $55 billion on new projects over the next two years, just days after the Unit...

Seven OPEC+ nations are meeting to set oil production quotas -- the first decision since the UAE left the cartel. The war in the Middle Eas...

The UAE has exited OPEC and OPEC+, ending decades of Saudi economic influence. Analysts call it a "political rebellion" prioritizing market...

UAE Quits OPEC: How the World's Energy Map Just Shifted Permanently. The UAE's departure from the Saudi Arabia-led cartel is being called t...

United Arab Emirates has announced it will exit OPEC and OPEC+ effective May 1, delivering a fresh shock to an already strained global ener...

Oil prices extended gains as concerns mount over prolonged supply disruptions from the Middle East due to the U.S.-Iran conflict. Talks to ...

In a dramatic turn of events, the United Arab Emirates has officially exited OPEC, signaling a significant transformation within the global...

UAE’s planned exit from OPEC is unlikely to disrupt global oil markets despite its sizable output, say industry executives, though it may d...

The United Arab Emirates has exited OPEC and OPEC+. This move significantly weakens the oil cartel and its leader, Saudi Arabia. Analysts s...

Why is UAE leaving OPEC, will Iraq or Kuwait leave next? Nearly 3.5 million barrels per day are now at stake. The Organization of the Petro...